LAST 2 TRADING SESSIONS BEARS HAVE MARKED THEIR PRESENCE AND IN THAT NIFTY LOST MORE THAN 350 POINTS (CLOSING TO CLOSING) WHEREAS NIFTY BANK BULLS SUFFERED LOSS OF MORE THAN 1000 POINTS.
ANYWAY WE HAVE ALREADY SHARED OUR WEEKLY VIEW FOR NIFTY AND NIFTY BANK INCASE IF YOU HAVE MISSED THAT WE REQUEST YOU TO CLICK HERE TO READ IT.
On 5th February 2018 at 2100 hrs we are going to conduct Free Webinar on Option Basics to join please click hereANYWAY WE HAVE ALREADY SHARED OUR WEEKLY VIEW FOR NIFTY AND NIFTY BANK INCASE IF YOU HAVE MISSED THAT WE REQUEST YOU TO CLICK HERE TO READ IT.
Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next session.
Nifty Spot Closed with Loss of 94 points or 0.87% at 10666 whereas Nifty Future closed at 10685 (Premium of 21 points)
Nifty Bank Closed with Loss of 352 points or 1.33 % at 26099 whereas Bank Nifty Future closed at 27196 (Premium of 97 points)
Nifty View
Now lets have look at spot Nifty Daily Chart.
As discussed in our last week post "So now today's close is below yesterday's low. further psychological level of 11000 is also near so any close below that may easily trigger more fall" and now result is in front of us
NOW TODAY'S LOW OF 10586.80 SHALL PLAY CRUCIAL LOW FOR NEXT 2-3 SESSION IF THAT IS BROKEN THEN MORE DOWNSIDE GATES TILL 10172 SHALL OPEN BUT BEFORE THAT 10500-10437 & 10297 SHALL ACT AS SUPPORT.
Nifty Bank View
Nifty View
Now lets have look at spot Nifty Daily Chart.
(Incase if you are not able to view full image click on image to enlarge)
NOW TODAY'S LOW OF 10586.80 SHALL PLAY CRUCIAL LOW FOR NEXT 2-3 SESSION IF THAT IS BROKEN THEN MORE DOWNSIDE GATES TILL 10172 SHALL OPEN BUT BEFORE THAT 10500-10437 & 10297 SHALL ACT AS SUPPORT.
Nifty Bank View
Anyway lets move forward and study daily chart after last trading session.
(Incase if you are not able to view full image click on image to enlarge)
Option Chain Data.
Nifty
10000 PE is having huge Open Interest which may act as strong support where on upside 11500 CE is having huge Open Interest but before that 11000 CE may act as stiff resistance.
10000 PE is having huge Open Interest which may act as strong support where on upside 11500 CE is having huge Open Interest but before that 11000 CE may act as stiff resistance.
Nifty Bank (Considering only monthly Option Chain)
Though 26500 PE is having highest Open Interest spot closed below that whereas on 28000 CE is having huge Open Interest which may act as stiff resistance going forward.
Put Call Ratio Stands at 0.84 (Neutral) for Nifty whereas for Nifty Bank it is 1.11 (Neutral)
Though 26500 PE is having highest Open Interest spot closed below that whereas on 28000 CE is having huge Open Interest which may act as stiff resistance going forward.
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We have scheduled Free Webinars On Stock Market Basics in this Week as well as Next Weekend. Schedule for same are as under:-
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Options Basics on 05/02/2018 at 2100 hrs
Option Greek at Glance on 06/02/2018 at 2100 hrs
Option Chain Basics on 08/02/2018 at 2100 hrs
Bollinger Band Basics on 09/02/2018 at 2100 hrs
Option Strategies & Bollinger Band on 10/02/2018 at 1000 hrs
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Options Basics on 05/02/2018 at 2100 hrs
Option Greek at Glance on 06/02/2018 at 2100 hrs
Option Chain Basics on 08/02/2018 at 2100 hrs
Bollinger Band Basics on 09/02/2018 at 2100 hrs
Option Strategies & Bollinger Band on 10/02/2018 at 1000 hrs
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During Market hours Nifty Option Call in which in first we were gaining more than 50 points but later on when call was closed with loss of 20/lot for entire trade.
TWITTER.COM/NIFTY50STRIKER
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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.
Hi, when u say 10k is good support as PE has good volume, what is reason directly going to 10k n not considering interim PEs with higher OI.....e.g. 10.5k PE has highest OI.....
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